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New Account Documentation & Compliance


Managing risk is the #1 priority for all financial institutions and it all starts at the new account desk. If a criminal cannot get in, they cannot steal from your organization.  Well-trained new account personnel and universal bankers who recognize and stop attempted dishonest activity are the first line of defense in protecting a financial institution from fraudsters. 
Unfortunately, too often, new account personnel are trained “on the job” which results in an environment of potential vulnerability and unnecessary losses for the financial institution.  Additionally, with constant new regulations, the need for ongoing training is paramount in order to maintain diligence as well as update processes and procedures. This full-day workshop teaches important new account opening procedures and compliance requirements focusing on vital information for every type of new account. 
The seminar manual is customized to your state law and has become known as the “technical reference handbook” for new account departments across the country.
What You Will Learn
  • Six Basic Requirements For Opening Any New Account
  • Understanding Signature Card and Account Agreement Contracts 
  • TIN Compliance
  • Proper Business Account Documentation and Resolutions (Sole Proprietorships, General and Limited Partnerships, LLC, LLP, LLLP, Corporations, Escrow Accounts, Non-Profit Associations/Charitable Organizations, IOLTA Accounts and Public/Governmental Units)
  • Opening Individual Accounts (Individual, Joint With Rights of Survivorship, Tenants-In-Common Without Rights of Survivorship)
  • Adding Authorized Signers or Agents to Personal or Business Accounts 
  • Access at Death on a Personal or Business Account
  • Power of Attorney – In-House vs. Out-of-House Form
  • Trust Accounts – Formal vs Informal, Revocable vs Irrevocable, Living Trusts, Trust Account Certification
  • Payable on Death, In Trust For “ITF”
  • Accounts For Minors – Single Account In Minor’s Name, Joint Account With a Minor, Uniform Transfer To Minors Act Accounts
  • Court Ordered Accounts: Estate, Guardianship, and Conservatorship
Bring a copy of your institution’s signature cards and account agreement to the workshop.

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